Chennai
Unfinished JW Marriott Hotel in the city are being pulled down by the City builder Ceebros which have been bought for 480 crore last year from Hyderabad-based Viceroy Hotels. The hospitality sector in Chennai is going through a serious disaster with low occupancy in most five-star hotels, due to this reason Viceroy Group sold the [...] Continue Reading »
As per the real estate industry body CREDAI, at the recently concluded seventh edition of property exhibition Fairpro 2014, held at Chennai during February 21-23, majority of home buyers opted for mid-range apartments priced between Rs 30 lakh and Rs 60 lakh. Besides, a record sale of over 300 units and revenue of Rs 200 [...] Continue Reading »
Hayat Invest, the Kuwait-based investment company has announced its plans to foray into the domestic real estate business with its first residential project to come up near Chennai, under its joint venture Indian partner XS Real Group. S G Prabhakaran, Chairman of the XS Real Group said to the reporters, “Hayat Investment company would invest [...] Continue Reading »
Today Reliance Infrastructure said it has started collecting toll from its 10th road project, a stretch linking Trichy and Karur in Chennai on NH-67 which is 63-km long. National Highways Authority of India (NHAI) had ordered RInfra for doubling the stretch into a four-lane one, maintaining and operating the project for 30 years from the date of signing of [...] Continue Reading »
The National Highways Authority of India (NHAI) has acted briskly after the Madras High Court’s verdict on Chennai Port-Maduravoyal elevated expressway. The officials have asked the State Highway Secretary to convene meeting at the earliest by inviting Public Works Department Secretary to take the project forward. The High Court had asked all the stakeholders to [...] Continue Reading »
J Jayalalithaa, the Chief Minister of Tamil Nadu inaugurated a 400-bed Multi Super, Rs 141.14 crore, Speciality Hospital in the compound which was the erstwhile secretariat complex constructed by the previous DMK regime. The sprawling building had been built in an area of over 10 lakh sq.ft by the previous M Karunanidhi-led DMK government at the Omandurar Government Estate in [...] Continue Reading »
Over 20,000 properties will be showcased in the price range of Rs. 15 lakh to Rs. 7 crore, in the annual property show of Confederation of Real Estate Developers Associations of India (Credai), Chennai. Governor K. Rosaiah will inaugurate the exhibition on Friday at Chennai Trade Centre. The exhibition will showcase 250 projects of about [...] Continue Reading »
The Tamil Nadu government is giving a lot of thought to the infrastructure development of the state to promote industries. The state government presented a no new-tax budget for 2014-2015. This move to promote industries amidst a “failing macro environment” is being taken to support the economic growth in the state. The government has decided [...] Continue Reading »
With the expectation of a stable government at the Centre and the industry betting big on growth in jobs and, thus, increased investments, the realty sector in Chennai is set for growth. During a discussion on imminent market changes in Chennai, a hopeful lot of people from the industry were optimistic about the realty situation [...] Continue Reading »
Ashok Leyland is facing high debt and a decline in sale of commercial vehicles over the last several quarters. As part of the plan to tackle the problems it is selling of immovable property, including the prime property in Chennai. Boat Club area, which is one of the most expansive residential localities in Chennai, has [...] Continue Reading »
